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California redevelopment agency update: the implications of the Matosantos decision

On February 1, 2012, as a result of recent legislation and the California Supreme Court’s decision in Matosantos, all redevelopment agencies in California ceased to exist. Now the complicated process of dissolution is underway, and successor agencies (cities and counties) are scrambling to document the former redevelopment agencies’ “enforceable obligations” with third parties.

By March 1, 2012, each successor agency is required to adopt a draft Recognized Obligation Payment Schedule (ROPS), which identifies the former redevelopment agency’s obligations, including payees and payment schedules. If you believe that you may have an enforceable obligation with the former redevelopment agency that should be included on the ROPS, you should ensure that it is included before the March 1st deadline. Please also note that there are additional deadlines imposed by the legislation and Supreme Court that may affect your rights. For a summary of these upcoming dates and how they may affect your project, please contact an Allen Matkins attorney in your area.

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